President Trump’s second term has been highlighted by his aggressive utilization of tariffs. His latest tariffs include a modified rate of 50% on India, 35% on Canada, and 15% on Japan. Now, Trump is taking notice of those who spoke out against him.
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“But David Solomon and Goldman Sachs refuse to give credit where credit is due,” said Trump in a Truth Social post on Tuesday. “They made a bad prediction a long time ago on both the Market repercussion and the Tariffs themselves, and they were wrong, just like they are wrong about so much else.” Trump also said that Solomon “ought to just focus on being a DJ, and not bother running a major Financial Institution.”
Trump Says Tariffs Have Generated ‘Trillions of Dollars’
In the same post, Trump said that his tariffs have generated “trillions of dollars,” have not caused inflation, and, for the most part, have not burdened consumers.
CNBC Washington correspondent Megan Cassella notes that Trump’s tariffs have only generated $93.92 billion through the first six months of the year, based on data from the Peterson Institute for International Economics.
According to TipRanks’ Trump Dashboard, Goldman Sachs (GS), the Financial Select Sector SPDR Fund (XLF), and the Vanguard Financials Index Fund ETF (VFH) will likely be affected by his post.
